Catalyst Biosciences has signed a research and licensing agreement with AstraZeneca's MedImmune biologics unit to develop novel engineered proteases that degrade or modulate two disease targets, one of which has been identified as an inflammatory and autoimmune disease target. Catalyst will receive an undisclosed up-front licensing fee, full-time employee support, and development milestone payments up to $195 million, in addition to royalties for commercialized drugs. MedImmune will be responsible for late-stage development, manufacturing, and commercialization of products discovered in the collaboration.